The World Bank is a unique global partnership of five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Its mission is to reduce the share of the global population that lives in extreme poverty to 3 percent. In Ethiopia, the World Bank is helping tackle poverty and improve living standards. Its goals include promoting rapid economic growth and improving service delivery.
Germany and Ethiopia’s relationship have been strong since 1905 due to high-level visits from both sides. Ethiopia is a significant recipient of German development assistance and Germany’s reform partners.
Following a historic drought, the UN estimates that around 13 million people are at risk of hunger in Somalia, Kenya, and Ethiopia. Somalia is the most affected region by the extended drought caused by three straight failed rainy seasons that affected 6.2 million people in southern and South-Eastern Ethiopia.
World Bank and Germany allocate $64.3 million and $22.6 million funding to support drought-affected regions in Ethiopia. The German Government and World Bank grant is hoped to provide help as fast as quickly as possible to avoid or minimize damage.
The funds provide over 50,000 people in Somalia livestock feed & restore 26 dried-up watering holes. The World Bank and Germany aim to ensure that people at risk from hunger can receive quick assistance.